Korea Joongang Daily
Korea JoongAng Daily

Exclusive: Hyundai Mobis in talks with Volkswagen-owned Scout on multibillion-dollar deal

Hyundai Mobis is in talks with Scout Motors, an EV brand under the Volkswagen Group, for a multibillion-dollar EV battery system deal, according to multiple sources familiar with the matter.

2026-01-20

Introducing the Ioniq 3: Hyundai's compact EV gamble to arrive in 2026

The EV market may be losing some of its early momentum — but if Hyundai’s Ioniq 3 arrives as planned in 2026, it could change the conversation in a big way.

2026-01-01

After overtaking Volkswagen, Hyundai accelerates global sales push

Hyundai Motor aims to expand faster globally by leveraging its hallmark strength in managing complexity, especially as uncertainties surrounding Donald Trump’s tariffs gradually dissipate.

2025-11-06

Hyundai in a catch-22 as it absorbs U.S. tariffs while Toyota, Volkswagen benefit from deals

With a vow not to raise prices in a bid to maintain or gain U.S. market share, Hyundai Motor Group is absorbing costs of around 5 million won per unit shipped across the Pacific, putting much more strain on its books than those of its rivals.

2025-10-02

Jussi Lehtimaeki appointed CEO of Volkswagen Financial Services Korea

Volkswagen Financial Services Korea appointed Jussi Lehtimaeki as its new CEO effective April 1.

2025-04-16

Volkswagen eyes a Korean revival with a new Golf. But is a diesel hatchback the answer?

Volkswagen teed up the new Golf in Korea with a diesel engine the only option, a curious move in a market that is moving away from diesel and hatchbacks.

2025-03-14

In moving people or cargo, Kia's PV5 EV seeks to move market

With the release of Kia's PV5 EV, which can be customized to the needs of consumers, the automaker is looking to take on heavy hitters like the Volkswagen ID. Buzz and Ford E-Transit.

2025-02-27

Audi to launch record 16 models in Korea to up ailing sales

Audi Korea plans to launch 16 new models in 2025, including the Q6 e-tron EV, in response to falling sales and customer complaints.

2025-01-13

VW doubles down on diesel with new Touareg in Korea

Volkswagen introduced the luxury Touareg SUV in Korea, equipped with new tech and offered only in diesel as the company hopes to revive its declining market share.

2024-08-06

Hyundai, Ford, BMW fined billions for violating safety standards

Ten automakers including Hyundai Motor, Mercedes-Benz and Porsche were fined for selling vehicles that failed to meet safety standards.

2024-03-20